OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHTFOOT MAYOR
September 18,2019
TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO
Ladies and Gentlemen:
At the request ofthe Chief Financial Officer, I transmit herewith, an. ordinance authorizing the closure of senior lien water revenue bonds.
Your favorable consideration of this ordinance will be appreciated.
Very truly yours,
ORDINANCE STATING THE CITY'S INTENTION NOT TO ISSUE ADDITIONAL SENIOR LIEN WATER REVENUE BONDS AND AUTHORIZING AMENDMENT NO. 2 TO THE MASTER INDENTURE OF TRUST SECURING THE SECOND LIEN WATER REVENUE BONDS
WHEREAS, the City is a duly constituted and existing municipality within the meaning of Section 1 of Article VII of the Constitution, and is a "home rule unit" under Section 6(a) of Article VII of the Constitution; and
WHEREAS, in order to improve and expand, the City's Water System, the City has issued series of Senior Lien Water Revenue Bonds from time to time pursuant to authorizing ordinances adopted by the City to pay the costs of improvements and expansion of the Water System (collectively with the Series 2000 Bond Ordinance defined herein, the "Senior Lien Water Revenue Bond Ordinances"); and
WHEREAS, the Series 2000 Senior Lien Bonds were issued pursuant to an ordinance adopted by the City Council ofthe City of Chicago on November 17, 1999 and published in the Journal of Proceedings ofthe City Council for said date on pages 17845 to 18039 (the "Series 2000 Bond Ordinance"); and
WHEREAS, the Series 2000 Bond Ordinance also approved the Second Lien Bonds Master Indenture of Trust from the City to The Bank of New York Mellon Trust Company, N.A., as trustee (as successor to Amalgamated National Bank and Trust Company of Chicago and J.P. Morgan Trust Company, National Association) which was subsequently entered into on December 15, 1999, as amended by Amendment No. I to Master Indenture Dated as of August 1, 2004 (together, the "Master Indenture"); and
WHEREAS,...
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